BUSINESS AND PUBLIC SERVICES
INVESTMENT CONSIDERATIONS:
Foreign investors generally conduct business through a Namibian company or as a branch of their home corporation. Company formation is simple and inexpensive. Shell companies are available from accounting and legal firms. Close corporations are simpler to administer and are not subject to statutory audit obligations. Legal, tax and accounting advisers should be hired in the early planning stages of establishing a business entity. The choice of entity is of extreme importance when setting up a business. In Namibia an entrepreneur can choose from a variety of business forms. Business registration • Business may be conducted in a variety of forms: • Public company or private company • Branch of a foreign company • Close corporation • Partnership, including joint venture
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Sole proprietor Business trust
Prior to commencing business it is necessary to obtain the appropriate registration certificate from the local municipal health department. Certain businesses, such as banks, insurers and pharmaceutical companies, may require additional special licences. It is also necessary to register with: • The Workmen’s Compensation Commissioner with regard to the government-operated workmen’s compensation insurance scheme • The appropriate industrial council governing the trade or industry in which the business proposes to operate • The Department of Inland Revenue with regard to value added tax and employment matters • The Receiver of Revenue • The Department of Social Security For more information visit www.pwc.com and download the Business and Investment Guide for Namibia 2016, published by PWC Namibia.
Images by Lewcor, Nampower and NSI w w w. n a m i b i a t r a d e d i r e c t o r y. c o m
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